Crypto Firm Chiliz gets $100M Stake in FC Barcelona is Digital Studio
FC Barcelona, one of the world is most prestigious football clubs, announced a multi-million-euro collaboration with Socios.com, the Blockchain Technology-based sports fan engagement platform.
Socios.com is founder and technology provider, Chiliz will invest €100 million (~ USD 102 million) to acquire nearly 25% of Barça Studios, which manages the football club is audio-visual productions and digital business offerings.
The investment comes after Socios.com began partnership with the club back in February 2020 with the launch of football club is fan token called BAR.
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According to a press release from Socios.com, the investment will allow the club to build better Non-Fungible Token (NFT) and Metaverse projects, while also being able to refine and innovate its approach to engaging with fans across the globe and building community through the use of Digital Tokens and Assets.
The collaboration intends to create prospects for the use of BAR tokens that extend beyond Socios.com is platform.
“We are passionate about the role that blockchain technology can play in building communities that bring our fans across the globe closer to their teams and each other,” said Alexandre Dreyfus, CEO of Socios.com and Chiliz. “Barça Studios can now leverage our blockchain technology, expertise, and global scalability.”
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Shortly after Socios.com released the deal announcement, FC Barcelona confirmed the news on Twitter, stating it will help the football club advance its “Audio-Visual, Blockchain, NFT and Web.3 Strategy.”
FC Barcelona and Crypto
Fans have already procured over €39 million ($40.07 million) worth of BAR tokens from Socios.com, according to the Blockchain Technology Company, which yield access to an engage-to-earn platform. Participating in the community can lead to VIP tickets for fans, merchandise, and other opportunities, like being able to play on the pitch at football club Barcelona’s home stadium in Spain, Camp Nou.
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In August of last year, the football club is president, Joan Laporta, disclosed that football club Barcelona was €1.3 billion ($1.34 million) in debt, leading the club to let go of its global superstar striker Lionel Messi because they could not afford to pay his fees and seek out funding.
The club took a €595 million ($611 million) debt from investment bank Goldman Sachs that month and reached a new sponsorship deal with Spotify in March.
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The world of sports has rapidly become a ripe landscape for Web3 firms to find favorable partnerships and promote blockchain technology-based products through exposure and promotions. A poll this year found out that avid sports fans are twice as likely to own NFTs or Digital Currencies, and Manchester City F.C. recently added cryptocurrency platform OKX as its training kit partner.
“Socios.com, founded in 2018, has established collaboration with over 100 sports firms throughout multiple countries, including 20 NBA teams and 13 NFL teams in U.S., and individuals fighting in the UFC.”
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